CMA

The Institute of Cost Accountants of India is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy.

A Cost Accountant is a person who offers to perform or perform services involving the costing or pricing of goods and services or the preparation, verification or certification of cost accounting and related statements.

Institute of Cost & Works Accountants of India (ICWAI) has changed it’s name into The Institute of Cost Accountants of India (ICAI). Also ICWA course has changed into CMA course. There is no difference between ICWAI and CMA. They are two different words used to describe one single thing. ICWAI stands for Institute of Cost and Work Accountant of India whereas CMA stands for Cost management accounting. Apart from the literal meaning there is no difference at all. There are 3 stages in ICWA course i.e., CMA Foundation, Inter and Final.

If you want to become Cost management accountant, you should complete these three stages. Students who have passed 10+2 are eligible for ICWA Foundation exam. The Institute of Cost Accountants of India conducts ICWAI Foundation exam four times in a year in the months of March, June, September and December. If you passed ICWA Foundation exam, you are eligible for ICWAI Inter. If you have any graduation degree, you are exempt from ICWAI Foundation exam. You can directly enter into ICWAI Inter.